Analyst Shaw Wu for Kaufman Brothers has increased his price target on Apple from $120 to $152 on Monday.

In Wu’s report the analyst argues that Apple is bucking the trend, up 45% since November compared to the NASDAQ at 20% and S&P500 up 7%. Additionally Wu gave some reasons for further Apple growth; WWDC is coming up in June where Apple is expected to release iPhone OS 3.0 and unveil new iPhone hardware, Mac sales are improving due to refreshes across the board and finally Wu describes “The potential for a new form factor, perhaps Apple’s answer to the netbook, with a large screen iPod touch-Mac hybrid.”

Apple is set to reveal fiscal Q2 results on Wednesday April 22 and seems to be causing a flurry of changes across analysts. Last week Barclays analyst Ben Reitzes raised his price target for Apple to $143 from $113.

Monday also saw Caris & Co.’s Robert Cihra raise his target to $150 from $120.